LevelTradingField, an “interactive online platform for professionals in the finance industry”, as described on the website, is set to release its Ethereum-powered cryptocurrency derivatives exchange.
The project called CADE is scheduled to be released in September 2018. As reported, the exchange will list Ethereum blockchain- based ERC20 tokens, which will track specific crypto assets, counting Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) Bitcoin Cash (BCH), Ripple (XRP) and Monero (XMR). More crypto assets are set to be added along the way.
An interesting aspect is that users are not forced to be in possession of these digital currencies to benefit from crypto exchange services.
“The tokens allow bullish traders to go long and bearish traders to go short the underlying asset. The tokens can also be used as hedges for miners as well as digital asset “hodlers”.
Once launched, CADE will list derivative tokens on Bitcoin, Ether, Litecoin, Bitcoin cash, Ripple and Monero. Additional underlying assets will be considered if they meet listing requirements.”
Tokens to be valued in LUSD
All derivative assets on CADE will be valued in LUSD – a stablecoin equivalent to the U.S. Dollar. According to the press release, the upcoming exchange could also be useful for crypto enthusiasts such as cryptocurrency miners and investors for an indefinite period and not just for crypto traders.
“LUSD is a stablecoin that is pegged to the US Dollar and guaranteed by LevelTradingField, if it is purchased and redeemed from LevelTradingField,” the press release states.
In order to benefit from the platform services, all users must pass via a “robust compliance framework” considered a security measure to meet the Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) standards.
LevelTradingField is continually evolving. Back in 2017, the company released a Bitcoin Market Predictor through which users could bet the price evolution on Bitcoin (BTC) and win a remuneration. Latterly, LevelTradingField announced a new collaboration with NetXpress, which has pledged to provide a crypto-powered feed for users interested in cryptocurrency exchanges data.